ESTATES AT 128 th 10 CUSTOM LOTS IN GATED COMMUNITY 128 th ST & SHEA BLVD SCOTTSDALE, ARIZONA

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1 8141 E Indian Bend Rd, Suite 13 Scottsdale AZ 8525 Tel: (48) Fax: (48) ESTATES AT 128 th 1 CUSTOM LOTS IN GATED COMMUNITY 128 th ST & SHEA BLVD SCOTTSDALE, ARIZONA LOCATION Site is located at the southeast corner of 128 th St & Shea Blvd, Scottsdale, Arizona NUMBER OF ACRES 1 Gross / 8.6 Net NUMBER OF LOTS 1 Platted & Engineered Custom Lots Typical Lot Size 11 x 27 APPROVED ZONING R1-35 ESL / City of Scottsdale SETBACKS Front 3' Side 15' (measured from property line, not envelope line) Rear 35' (measured from property line, not envelope line) SUGGESTED PRICE Contact Brokers for Current Pricing SUGGESTED TERMS Cash. 45-day Feasibility Period with a close of escrow 3-days thereafter. UTILITIES Water Sewer Electric City of Scottsdale City of Scottsdale Arizona Public Service CONTACT Grant D. Helgeson, Don McCaul Westland Properties Group COMMENTS This is an excellent high-end gated custom lot opportunity in the East Shea Corridor. Final Engineered Subdivision Plat has been recorded. The City of Scottsdale will require individual grading permits for each lot. The City of Scottsdale may also allow stockpile permits to allow a builder to grade 5-1 lots at the same time. Approved Zoning stipulations limit site to Single Story housing product with a height restriction of 24 above natural grade. THE INFORMATION CONTAINED HEREIN WAS OBTAINED FROM SOURCES DEEMED RELIABLE, BUT IS NOT GUARANTEED BY THE BROKER. ALL DIMENSIONS, SIZES AND FIGURES ARE APPROXIMATE. THE PROPERTY IS SUBJECT TO PRIOR SALE, PRICE CHANGE OR WITHDRAWAL.

2 N 129th St E Mercer Ln E Sahuaro Dr E Becker Ln 13th St N 127th Way Connecting Road E Shea Blvd E Shea Blvd E Shea Blvd E Shea Blvd N 128th St N 13th St E Cochise Dr E Cochise Rd ESTATES AT 128th 1 PLATTED & ENGINEERED CUSTOM 1-ACRE LOTS 128th ST & SHEA BLVD SCOTTSDALE, ARIZONA Grant D Helgeson, Designated Broker - Direct: (48) Don McCaul, Broker - Direct: (48) Imagery 217, DigitalGlobe, U.S. Geological Survey WESTLAND PROPERTIES WPG GROUP 8141 E Indian Bend Rd, Ste 13 Scottsdale AZ 8525 Tel: (48) / Fax: (48)

3 Cactus Rd Reckell 132nd St 124th St Rancho Terrasina Scottsdale Mtn Villas Beaufort S Development Via Linda KCI Sienna Hills Mayo Clinic 136th St N Frank Lloyd Wright Blvd KCI114 Colgen Forum Capital FNBN E Shea Blvd Mirage Crossing Scottsdale Berg McDowell Mtn Bidar Sunrise Trail E Shea Blvd Stuart Sweilem Huerta Rios Hamdan BASIS Estates at 128th Azin 13th St Bahia Cochise Manor Whisper Ridge Emerald Hills Ranch Lopopolo Cordovana Ordjanian Coven Lopeslo Irving Mergens Patel Ungaro Devcor Ziggy Z Fulp Ronan DeAcetis Sandoval Deswest Feldman Welnick Buszmen ESTATES AT 128th 1 PLATTED & ENGINEERED CUSTOM 1-ACRE LOTS 128th ST & SHEA BLVD SCOTTSDALE, ARIZONA Grant D Helgeson, Designated Broker - Direct: (48) Don McCaul, Broker - Direct: (48) Imagery 217, DigitalGlobe, U.S. Geological Survey, USDA Farm Service Agency WESTLAND PROPERTIES WPG GROUP 8141 E Indian Bend Rd, Ste 13 Scottsdale AZ 8525 Tel: (48) / Fax: (48)

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6 LEGEND SITE/ ZONING BOUNDARY CONSTRUCTION ENVELOPE Shea Boulevard Scenic Corridor ' 184.7' 2 11.' 169.4' 182.6' 1 11.' 179.1' 11.' ' 11.' 8 11.' 176.' ' ' 16.8' 167.3' TRACT A 36.8' 128th Street 156.9' 118.3' 7 VICINITY MAP ' VIA LINDA 11.' DESERT MTN. HIGH SCHOOL MAYO CLINIC 12 south ash avenue tempe, arizona CONSTRUCTION ENVELOPE PLAN - PRELIMINARY-NOT FOR CONSTRUCTION - SUBJECT TO ENGINEERING AND CITY REVIEW AND APPROVAL - COPYRIGHT LVA URBAN DESIGN STUDIO, L.L.C. This document, together with the concepts and designs presented herein, as an instrument of service, is intended only for the specific purpose and client for which it is prepared. Re-use of and improper reliance on this document without written authorization and adoption by LVA Urban Design Studio, LLC shall be without liability to LVA Urban Design Studio, LLC. Q:\1311-Cochise Estates\CAD\LVA\(SUBMITTAL TYPES)\EXHIBITS\EXHIBIT-CONSTRUCTION ENVELOPE PLAN.dwg Nov 25, TH STREET 1311 NORTH 1' 5' ' COCHISE ESTATES APPROX. SCALE: 1"=5' 25' land planning development entitlements landscape architecture SITE 13TH STREET 124TH STREET SHEA BOULEVARD 128TH STREET Cochise Road TRACT B DRAWN BY:JS/JPC 11/25/14

7 SIERRA FOOTHILLS PULTE HOME CORP BK 484, PG 26 MCR ROW CURVE TABLE CURVE DELTA RADIUS LENGTH C '29" 1.' 39.43' C '54" 2.' 64.57' C '9" 12.' 2.71' C4 17 5'25" 1.' 29.83' C5 1 57'2" 12.' 19.5' C6 1 24'28" 1.' 2.46' C7 7 48'7" 52.' 7.81' C8 9 29'4" 48.' 79.54' C9 3 7'37" 52.' 28.38' C1 1 26'4" 48.' 12.2' C11 2 3'41" 61.' 26.74' C '35" 65.' 7.45' ROW CURVE TABLE CURVE DELTA RADIUS LENGTH C '33" 6.' 56.89' C '42" 6.' 27.1' C15 6 3'53" 45.' 5.12' C16 4 1'52" 45.' 3.28' C '33" 45.' 71.64' C '32" 45.' 65.35' C '3" 45.' 3.9' C '59" 45.' 25.92' C '14" 45.' 32.87' C '28" 45.' 19.8' C '21" 45.' 96.7' C '47" 2.' 25.16' CURVE DELTA RADIUS LENGTH C1 1 55'44" 5.' 95.37' C2 2 3'41" 63.' 27.61' C '" 23.22' 88.2' RIO MONTANA BK 316, PG 3 MCR N89 59'8"E 66.2' EX 12'' W EX 12'' W EX 12'' W EX 15'' S33.1' EX 15'' S 33.1' EX 15'' S 4' 4' 8' 12' 24.' FUTURE IMPROVEMENT HONG, DOROTHY A. / FRANCES A. DOC MCR APN EX Fmain EX Fmain EX Fmain NORTH 128TH STREET EAST COCHISE ROAD N 5'23"W ' ' ' 8'' S 24' BC/CL EX 12'' W EX 12'' W EX 12'' W ' TRACT 'E' ' ' 1' 28.66' ' TRACT 'C' SCENIC CORRIDOR ESMT & NAOS ESMT FF 66.5 PAD C ' 1.61' 23.2' C1 FF 64.5 PAD 63.5 PROPOSED DRAINAGE & NAOS A C C3 C5 C6 FF 67.5 PAD ' K FF 66. PAD 65. A C8 8'' W C7 C1 8'' S C TRACT 'A' C9 EAST SHEA BOULEVARD ' N89 59'8"W 33.1' ' 11.' 11.' 11.' ' 51.45' 6' D.G. TRAIL ADJACENT TO 6' SIDEWALK PER LANDSCAPING PLANS LOT 1 LOT 2 LOT 3 LOT 4 LOT WALL PER LANDSCAPING PLANS WALL PER LANDSCAPING PLANS 6' D.G. TRAIL ADJACENT TO 6' SIDEWALK PER LANDSCAPING PLANS LOT 1 SEE SHEET 9 FOR STORMDRAIN INFO ' 66.14' 1' MULTI-USE D.G. TRAIL PER LANDSCAPING PLANS 277.6' LOT 9 13 C2 C11 FF 7. PAD 69. C LOT 8 FF 68. PAD 67. K 66. C13 C16 C3 C14 C FF 72.5 PAD 71.5 FF 69.3 PAD 68.3 FF 75. PAD 74. FF 7.5 PAD ' 98.89' 11.' 141.4' 55.62' ' TRACT 'D' EX 6'' W EX 6'' W TRACT 'B' 36.17' EX 6'' W ' TRACT 'C' 329.9' N89 59'14"W ' 659.8' S89 56'13"W BECK, CHARLES L III DOC MCR APN A ' 271.6' STREET 1 SEE SHEET 9 FOR STORMDRAIN INFO ' ' 14 C C C2 C19 LOT ' 51.5' 31.8' IRVING, ALICE M. / ROGER W DOC MCR APN G 33.54' ' ' 215.' 52.27' C22 C21 LOT PROPOSED DRAINAGE & NAOS C ' ' 69.4 SCENIC CORRIDOR ESMT & NAOS ESMT 56.61' C24 EAST COCHISE ROAD CARPAY, TIMOTHY J. / HEATHER P. DOC MCR APN H S 4'14"E 66.85' AZIN, JOSEPH DOC MCR APN CURTIS LELAND BROWN EXPIRES 3/31/215 BEFORE YOU DIG BLUE STAKE CENTER Date: 1/7/15 Project: 14BFH1 File: Scale: 1" = 4' SHEET 3 OF 9

8 SITE REPORT N 128th St, Scottsdale AZ Prepared by Ben Sanchez at Westland Properties Group Meyers Index Rating ARIZONA N 128th St, Scottsdale AZ N W 1

9 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Parcel Details PARCEL CHARACTERISTICS APN Lot Size 32,498 sq ft Zoning -.75 acres Land Use VACANT LAND (NEC) Lot Size LAST RECORDED CLOSING Date - Sale Price - Lot Price per sq ft - OWNER INFORMATION Name Address In Care Of MCDOWELL CITRUS 1 LLC 3321 E BASELINE RD, GILBERT AZ,

10 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Economy Phoenix-Mesa-Scottsdale CBSA Metro Area JOB GROWTH year-over-year Jul. 217 Job Growth: 31,8 new jobs 217 Job Forecast: 46,1 new jobs UNEMPLOYMENT RATE Jul. 217 Unemployment: 4.3% 172,92 115,28 57,64-57,64-115,28-172,92-23,56 Unemployment 217 Forecast: 4.4% F F Maricopa County JOB GROWTH year-over-year TOP EMPLOYERS # employees Aug. 217 Job Growth: 42,16 new jobs 169,32 112,88 56,44-56,44-112,88-169,32-225, Job Forecast: 44,48 new jobs Banner Health 9,145 Honeywell International Inc 7,121 American Express 7,269 Wells Fargo 4,869 Bank of America 4, F EMPLOYMENT BY SECTOR OFFICE ABSORPTION ANNUAL JOB GROWTH BY SECTOR 14,48 1,86 7,24 3,62-3,62-7,24 CON EH F G H I M O PBS NRM TTU 5.4% Construction (CON) 15.% Education & Health (EH) 9.2% Finance (F) 11.1% Government (G) 11.1% Hospitality (H) 1.8% Information (I) 6.1% 3.2% Manufacturing (M) Other (O) 17.3% Professional & Business Services (PBS).1% Natural Resource Mining (NRM) 19.6% Trade, Transport & Utilities (TTU) 3

11 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Community Zip Code HOUSEHOLD INCOME 217E Median Household Incomes: $91,271 1,95 96,1 91,295 86,49 81,685 76,88 72,75 POPULATION GROWTH 217E Population Growth:.47% 24,16 23,45 22,65 21,895 21,14 2,385 19,63 2 HOUSEHOLD GROWTH 217E Household Growth:.65% 1,53 1,14 9,75 9,36 8,97 8,58 8, E 222F F Population Growth: 1.22% 217E 222F 222F Household Growth: 1.26% 217E 222F POPULATION BY AGE 217E Median Age: 49year 6 month 4, ,862. 2, , ETHNICITY 1.% 2.4%.5%.1% Others Two Plus SCHOOLS American Indian Pacific Islander Laguna Elementary School score 9/1 Mountainside Middle School 1/1 Desert Mountain High School 8/1 85+ Under to to to to to to to % 1.2% Asian Black 85.% White 5.1% Hispanic CRIME RATE per 1, people Total Crime Rate: Violent Crime Rate: Arizona Property Rate: WALKABILITY Walk Score: 18/ 1 4

12 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Supply Maricopa County PERMITS Jul. 217 Total Residential Permits: 25,373 72,75 57,66 43,245 28,83 14,415 last twelve months Single-family Multifamily LTM NUMBER OF LISTINGS Aug. 217 # of Listings: DAYS ON MARKET Jul. 217 Days on Market: 17,96 listings 63 days 28,725 22,98 17,235 11,49 5,745 Sep, 213 Sep, 214 Sep, 215 Sep, 216 Aug, Aug, 213 Aug, 214 Aug, 215 Aug, 216 Jul, 217 City of Scottsdale PERMITS Jul. 217 Total Residential Permits: 1,26 1,875 1,5 1, last twelve months Single-family Multifamily LTM 5

13 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Supply NEARBY PROJECTS Active Project Upcoming Project Sold Out Project NO PROJECT BUILDER UNIT SIZE PRICE RANGE TYPE 1 Fusion at Sunrise Trail K. Hovnanian Homes $529,99 - $74,99 Detached 2 Sienna Hills Blandford Homes N/A N/A Detached 3 Montacino McDowell Mountain Dick Lloyd Homes N/A Detached 4 Toll Brothers at Rancho Terras Toll Brothers $1,79,995 - $1,189,995 Detached 5 Whisper Ridge/Enclave (The) CalAtlantic Homes $829,99 - $923,935 Detached 6 Whisper Ridge CalAtlantic Homes $1,117,9 - $1,33,57 Detached 7 Summit at Crestview Mandalay Homes $642,725 - $956,268 Detached 8 Toll Brothers at Adero Canyon Toll Brothers $99,995 - $1,129,995 Detached 9 Adero Villas Camelot Homes $697,9 - $78,9 Attached 1 Overlook at Firerock Toll Brothers $616,995 - $759,995 Attached 11 Estates at Lane's End Camelot Homes N/A Detached 12 Windrose Estates Camelot Homes N/A Detached San Victor CalAtlantic Homes $428,99 - $552,262 Attached 14 Enclave at Fountain Hills Golden Heritage Homes $322,9 - $49,9 Attached 15 Graythorn Graythorn Development $325, - $353, Attached 6

14 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Sales Maricopa County Total Home Closings last twelve months Jul. 217 Total Home Closings: 17,924 Jul. 217 Total Existing Closings: 93,397 Jul. 217 Total New Closings: 14,527 Total Home Sales 231, ,5 139,125 92,75 46, LTM City of Scottsdale Total Home Closings Jul. 217 Total Home Closings: 9,817 9, Total Home Sales last twelve months Jul. 217 Total Existing Closings: Jul. 217 Total New Closings: 21,3 17,4 12,78 8,52 4, LTM Zip Code Total Home Closings last twelve months Jul. 217 Total Home Closings: Total Home Sales Jul. 217 Total Existing Closings: Jul. 217 Total New Closings: 1,85 1,48 1, LTM 7

15 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Prices City Of Scottsdale CLOSING HOME PRICE Jul. 217 Median Detached New: $79,61 1,394,85 Jul. 217 Median Detached Existing: $484,395 1,162, ,9 697, ,95 232, LTM Zip Code CLOSING HOME PRICE Jul. 217 Median SFD New: $854,444 1,38,15 1,15,125 92,1 69,75 46,5 23, LTM CLOSINGS BY PRICE RANGE Jul. 217 Median SFD Existing: $613,9 last twelve months DETACHED AFFORDABILITY New Existing New Existing K-2K 2K-36K 36K-52K 52K-68K 68K-84K 84K-1M 1M-1.2M 1.2M-1.3M 1.3M-4.1M 8

16 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Distress City of Scottsdale HOUSING TRANSACTION VOLUME BY TYPE last twelve months 11,35 9,8 6,81 4,54 2,27 New Existing Foreclosure Sale Foreclosure NOD LTM NOTICES OF DEFAULT & FORECLOSURES last twelve months Jul. 217 Total Foreclosures: 198 Jul. 217 Notices of Default: 491 8,25 6,42 4,815 3,21 1, LTM Zip Code NOTICES OF DEFAULT & FORECLOSURES last twelve months Jul. 217 Total Foreclosures: 12 Jul. 217 Notices of Default: LTM 9

17 N 128th St, Scottsdale AZ 85259, Sep. 28, 217 Appendix ABOUT Meyers Research, a Kennedy Wilson Company, combines experienced real estate and technology advisors with leading data to provide our clients with a clear perspective and a strategic path forward. Based in Beverly Hills, we are home to 8 experts in 1 offices across the country. DEFINITIONS AND METHODOLOGY All information presented involved the assembly of data sources that we consider to be reliable, including the Bureau of Labor Statistics, CBRE- EA, Nielsen Claritas, Public Record Data, Moody's Analytics, Great Schools, U.S. Bureau of the Census, Zillow, various regional Multiple Listing Service providers, Meyers Research and Zonda. We do not guarantee any data accuracy as all information is subject to human errors, omissions, and/or changes. Meyers Index The Meyers Index is a proprietary index that produces a score ranging from to 1, for a geographic area, ranging from the nation to a specific zip code. A higher index score captures the desirability of housing development for the selected area and is calculated using specific data sets weighted to interpret the strength of the market. Such metrics include price appreciation, sales activity, permit activity, demographic growth, household income levels, school scores, and affordability. Walk Score Walk Score measures the walkability of a zip code from - 1 using a patented system based on access to amenities, population density and road metrics. Methodology and full walk score scale can be viewed at methodology.shtml. Score ranges: car dependent area somewhat walkable daily errands do not require a car. Definitions CM - Current Month E - Estimated F - Forecast LTM - Last 12 Months An international real estate investment and services firm with a success proven legacy. Experienced real estate and technology advisors. A comprehensive research platform with real-time information all in one place zonda@meyersresearchllc.com (877)